Gold Market
Summaries produced by the GoldRate.info market desk from primary reporting, with sources linked on every article.
De Nederlandsche Bank has shipped 86 tonnes of gold from New York and Ottawa to London, citing geopolitical unrest. France has already emptied its gold from the New York Fed. The moves point to a deeper concern about liquidity in a crisis.
Gold extended its weekly losses on Friday, falling another 0.80% as the US dollar and bond yields rose on bets that the Fed could raise rates in September.
Central banks bought a net 23 tonnes of gold in July, the World Gold Council reported. Year-to-date purchases of 130 tonnes lag last year, with higher prices prompting caution.
Spot gold held at $4,469.26 on Friday after a 2% rally on Thursday. Traders now await US payrolls data for clues on the Federal Reserve’s next rate decision.
Jefferies warns that sustained upward pressure on US Treasury yields could create a difficult backdrop for equities, particularly REITs. It stays bullish on gold and gold miners as a hedge against dollar debasement.
A Dubai story highlights the debate between luxury handbags and gold as investments. But experts caution that while some rare bags appreciate, gold remains more liquid and reliable for portfolios.
Gold held steady on Friday as markets waited for US employment figures that could shape Federal Reserve rate policy. The precious metal is on track for a modest weekly gain.
The US Mint’s new $1 coin featuring President Donald Trump sold out hours after release. The gold-coloured coin contains no actual gold, being made of copper, zinc, manganese and nickel.
Gold prices jumped more than 2% after Fed Governor Christopher Waller signalled support for keeping rates unchanged if inflation continues to cool. Lower Treasury yields and a weaker dollar added to the rally.